Modern Slavery Act Transparency Statement
DAEJAN HOLDINGS PLC - MODERN SLAVERY STATEMENT
Daejan Holdings Plc (Daejan) is committed to preventing acts of modern slavery and human trafficking from occurring within its business and supply chain.
This statement covers Daejan and City and Country Properties Limited and their wholly owned subsidiaries.
About Daejan and structure of our organisation
Daejan is a UK based property investment business. The main activity of Daejan, as carried on through its subsidiaries (the Group), is investment in commercial, industrial and residential property in the UK and also on the eastern seaboard of the USA.
The Group generally holds its properties for the long term in order to generate rental income and capital appreciation and undertakes new development of existing assets. As at 31 March 2019, its portfolio was valued at £2.532 billion.
The Daejan Board has two executive directors and six non-executive directors. The Group operates a substantially outsourced business model. Day-to-day management of the Group’s properties in the UK is carried out by Highdorn Co. Limited and Freshwater Property Management Limited and a number of other commercial managing agents, in the US by Residential Management Inc, companies that are outside the Group.
As Daejan operates a substantially outsourced business model, Daejan has only a limited number of employees. However, we have policies in place to protect our employees and their labour rights in our operations. The employee handbook also contains a whistleblowing policy, which employees can use to report any concerns of unethical behaviour.
Those employees engaged by the property management companies with whom we work are primarily office based, putting them at low risk of modern slavery or human trafficking. The property management companies with whom we work have policies and procedures in place to protect their employees and their labour rights.
Risk and Compliance
We do not consider that we operate in high risk sectors or locations because our real estate portfolio is located in the UK and USA.
Our supply chain is broad and includes direct suppliers (e.g. legal advisors, property managers, letting agents and construction contractors) as well as indirect suppliers (e.g. cleaning, security, construction materials manufacturers).
We recognise that people in our supply chain may be at a higher risk and manage this through our procurement practices with suppliers and property management companies. Within our supply chain there are three main areas of higher risk, including the fair treatment of workers on construction sites, procurement of materials and sourcing of labour services in relation to property management activities.
Daejan evaluates the nature and extent of its exposure to the risk of modern slavery occurring in its supply chain by reviewing its procurement procedures with suppliers and property management companies.
Through our contracting procedures, suppliers and property management companies are required to comply with legislation and ensure that any subcontractors they appoint are also compliant.
Following our review of our actions this financial year to prevent slavery or human trafficking from occurring in our business or supply chains, we intend to take the following further steps to tackle slavery and human trafficking:
- to introduce a Responsible Procurement Policy to all aspects of the supply chain.
- to issue pre-qualification questionnaires covering responsible procurement, equal opportunities, real living wage conditions and management procedures to all major contributors to the supply chain via our managing agents and contractors.
This statement is made in accordance with section 54(1) of the Modern Slavery Act 2015 and constitutes Daejan Holdings Plc slavery and human trafficking statement for the financial year commencing 1 April 2019 and ending 31 March 2020.
This statement was approved by the Board on 2 July 2019.
Date: 2 July 2019